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FAQs
Browse through the answers to our most frequently asked questions.
We are very sorry that you have been impacted by COVID-19. If you need assistance with your account please contact us at 1-888-256-6083 1-888-256-6083 or e-mail us at support@joracredit.com so one of our Jora Guides can help get you the support you need.
Unfortunately, we’ve all felt changes to our daily lives due to COVID-19 and know that with all the news and information being circulated it can be overwhelming. To provide additional help to our consumers we have been closely following the CARES Act and found some frequently asked questions (FAQs) provided by the US Senate with information regarding the Cash Payments to Americans as well as other relief information that may be helpful to you during this difficult time. Click on the link below to view the FAQ. Please feel free to share with your friends and family.
CARES Act FAQs for Individuals From US SenateAn installment loan is a more traditional type of loan where the borrower applies for and then takes the total amount they need at one time. The borrower pays back that amount over a set period of time in equal payments (installments) until the loan is paid in full. If more money is needed, the borrower must reapply for another loan. Typical examples of installment loans are auto or mortgage loans.
A line of credit offers consumers a more flexible borrowing solution and, generally, is more suitable for those who have borrowing needs that vary. Once approved, the borrower can access any portion of that credit line, up to the maximum amount approved, at any time (provided the account is in good standing). Lines of credit are intended to be borrowed from multiple times without having to reapply. Interest and/or fees are assessed only on the amount borrowed/outstanding. Any available, but unused, credit does not incur any interest or fees.
You must be at least 18 years old (19 if residing in AL) and:
- Reside in a state in which Jora does business
- Have a job or proven source of income
- Have a valid email address
- Have an active and acceptable checking account
All submitted applications are subject to verification of application information and acceptable prior credit or loan history. Your online application will be either approved or declined based on our evaluation of your information. In some cases, we will ask for additional bank account eligibility information.
When you complete and submit an application for a Jora loan, we access the credit report of most applicants. Multiple credit inquiries in a short period of time may have an impact on your overall credit score.
Not necessarily – in addition to credit score, we look at a variety of factors when considering your application.
After you get started you will be taken through a quick 4 step application of creating an account with Jora, providing personal and financial information and finally agreeing to the application disclosures before you submit.
Most applications receive a credit decision in a matter of seconds once they submit an online application.
If we are unable to verify any of your application information, you may be required to complete a quick bank eligibility verification. Once complete, you will be notified of your results and in most cases this can be completed in a few minutes.
Most applications receive a credit decision in a matter of seconds once they submit an online application. You will also receive an email notification.
If we are unable to verify any of your application information, you may be required to complete a quick bank eligibility verification. Once complete, you will be notified of your results and in most cases this can be completed in a few minutes.
First-time applicants can qualify for a loan between $500 and $2,600 depending on the state of residence. See What It Costs page for additional information specific to your state.
For installment loans, if your application is approved, verified, and your loan agreement signed prior to 10:30 a.m. Central time (Monday – Friday, excluding bank holidays) your loan can be funded that same day. You will have to check with your bank to see exactly when the funds will appear in your account, but it should be there by 5pm your local time. If you sign and submit your loan agreement after 10:30 a.m., your loan can be funded on the next business banking day. Alternatively, you can request that we send you a paper check by mail, which will take approximately 7 – 10 business days to receive.
For lines of credit, if you submit your Cash Advance request prior to 10:30 a.m. Central time (Monday – Friday, excluding bank holidays) your request can be funded that same day. You will have to check with your bank to see exactly when the funds will appear in your account, but it should be there by 5pm your local time. If you submit your Cash Advance request after 10:30 a.m., your request can be funded on the next business banking day. Alternatively, you can request that we send you a paper check by mail, which will take approximately 7 – 10 business days to receive.
Jora Credit is the Lender. Jora Credit operates under state specific companies, licenses, and rules for the states that it services. Jora Credit does not lend or arrange loans or lines of credit in all states. Please see What it Costs for the serviced states and applicable terms.
If you received an offer from Jora Credit on the LendingTree website, you have met our preliminary offer criteria and have a good chance of being funded. Final approval is provided after a complete application is submitted on the Jora Credit website and meets all of our eligibility criteria.
Your total cost of credit depends upon the state you live in, the amount you borrow, and prior credit or loan history. For example, in Missouri, the Annual Percentage Rate (APR) for an Installment loan of $2,000 is 245% with 48 bi-weekly payments of $190.50. See What It Costs page for more details specific to pricing and the product(s) available in your state.
Jora Credit loans are an expensive form of credit and are not suitable for everyone. You must carefully consider your own unique financial situation and make an informed decision about whether or not a Jora loan or line of credit is the right option for you.
Jora Credit customers are generally considered higher risk borrowers who usually have trouble accessing other credit products available in the market today. As a result of this added risk, we experience much higher losses and higher costs than other lenders like banks or credit card companies. So, in order to cover these higher losses and costs we must charge higher rates for our loans.
To be sure, Jora Credit loans are an expensive form of credit and are not suitable for everyone. You must carefully consider your own unique financial situation and make an informed decision about whether or not a Jora loan or line of credit is the right option for you.
You are responsible for making your payments on time. To make on time payments easier, you can schedule automatic electronic payments from your checking account or you may provide payment in the form of check or money order. If you make a payment late, fail to make a payment, or a payment is returned unpaid, you may accrue additional finance charges. We may resubmit the payment to your bank if a payment is returned. Texas residents will be charged $30 for a NSF (Non-Sufficient Funds) fee. If you are unable to make your scheduled payment, please contact Customer Support to see if we can help.
Jora Credit provides you with the choice of making payments on your credit over time or paying off at any time without a prepayment penalty. For example, in Missouri, the Annual Percentage Rate (APR) for an Installment loan of $2,000 is 230% with 48 bi-weekly payments of $179.54. See What It Costs page for more details specific to pricing and the product(s) available in your state.
Keeping your financial and personal information safe is one of our highest priorities. Jora has taken a number of measures to keep our process completely confidential. Please review the details on our Security page. Also, please review our Privacy Policy for details on how we handle your personal information. If you have additional unanswered questions, please Contact Us.